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Author Topic: Please no more merchant adoption!!  (Read 2545 times)
cafucafucafu
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March 17, 2015, 10:20:09 PM
 #1

It's harming the price. A new merchant comes in then old time bitcoiners start buying stuff.

Joking aside, we need to promote not just merchant adoption but also ways for companies to pay by btc.


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March 17, 2015, 10:24:59 PM
 #2

There is a company that you set your auto deposit and the percentage to and you get paid out in bitcoin.

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March 17, 2015, 10:26:15 PM
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There is a company that you set your auto deposit and the percentage to and you get paid out in bitcoin.

Are you talking about bitwage.co ?

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March 17, 2015, 10:36:17 PM
 #4

That is true and it is happening for a while but it is good thing in long run cause it will initiate wide addoption. For now, we need merchants to give usage value to Bitcoin.
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March 17, 2015, 10:50:59 PM
 #5

Of course we need more merchant adoption, bitcoin is as good as what you can do with it...
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March 17, 2015, 10:55:07 PM
 #6

We need merchant adoption to promote bitcoin. What we also need is merchant not selling all their bitcoin the day they received them. We need more bitcoin adoption so those merchants can pay for their costs in bitcoin, like internet service, mobile phone, advertising.
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March 17, 2015, 10:58:35 PM
 #7

Rakuten thing, right? Wait till Amazon gets here :-)

Seriously, it's a good thing - do not worry about the short term price effect... Unless you are active trader, then yes, complaining is justified. 
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March 17, 2015, 11:22:53 PM
 #8

i read the OP .. yawn

OP is a FIAT lover and only cares about exiting bitcoin to return to FIAT.

he has no long term desires of bitcoins 'economic' / 'social' growth, just the 'value' growth, nor does he understand the whole economy.

and lastly he is narrow sighted about the value of bitcoin based solely on the crappy exchanges that are basement dwellers PHP projects.

what people need to realize is that once bitcoin is on the nasdaq the price is going to sky rocket. with the block reward halving and ever increasing hashing costs.. yes you guessed it the price is going to sky rocket..
so the vibrations of the ups and downs of current exchanges are meaningless to the future of bitcoin.

what bitcoin needs is more merchant adoption AND training in how to get the merchants staff to highlight and accept it themselves. then the wallstreet traders will see that bitcoin is a growing economy and not just a pump and dump like the OP wants.

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March 17, 2015, 11:36:47 PM
 #9

http://contravex.com/2014/02/25/matters-of-bitcoin-merchant-adoption/
cafucafucafu
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March 17, 2015, 11:39:30 PM
 #10

i read the OP .. yawn

OP is a FIAT lover and only cares about exiting bitcoin to return to FIAT.


What is wrong with you? I believe in bitcoin. I cant see myself converting my coins to fiat ever. I want it to dominate the world.

Just because I have doubts over the exchange price doesn't mean I am pro-fiat! Also I do believe that merchant adoption needs to be balanced with other things i.e incentives to buy BTC.

I think you may be displeased with how I reacted to some of your so-called incentives for adoption. I think there are much better ways than what you have suggested.


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March 17, 2015, 11:55:34 PM
 #11

Merchant adoption is the key, it can increase the bitcoin price a lot due to more coins in circulation will reduce the coins on exchanges

https://bitcointalk.org/index.php?topic=987110.0

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March 18, 2015, 12:09:12 AM
 #12

OP ... thats an extremely shortsighted statement!
What are you gonna say when ur talkin to someone and they ask "well where can I use it, spend it?"
... "oh theres a few places".....

Think long term dude, u want to be able to say "EVERYWHERE!"

Being able to state the latter encourages consumer adoption and thats what Bitcoin needs is consumer demand. Among other things... lol

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March 18, 2015, 01:02:00 AM
 #13

I know the more well known places that take bitcoin as a payment further legitimized it when joe q public asks what's the point of having it and where can one spend it. However, unless a retailer is offering a decent sized discount for using it they aren't passing on the advantages that bitcoin offers for utilizing it above and beyond paying in fiat or on traditional plastic. Basically, we're stooges for paying with it until they offer discounts or we're just letting them get over on us and in reality, the average person using old payment systems is getting better deals as the company isn't making extra profit. This ecosystem needs and wants greater adoption rather than companies just taking our coins and dropping them at bitpay but adoption will happen faster when the family shopper is getting discounts for paying in bitcoin or paying it in a form they may not totally realize they in fact are paying with it.
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March 18, 2015, 02:26:32 AM
 #14

I've been including the attached fliers in my bill payments the last couple weeks; note that one of the line items urges merchants to use bitcoin with their own supply base so they extend the benefits of using bitcoin on both the customer and supplier/vendor sides. That would be a major step forward, if we start seeing companies transact in BTC between themselves.

http://imgur.com/a/PwgdJ





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March 18, 2015, 03:01:24 AM
 #15

i believe merchant adoption is the most important part of the success of bitcoin.
if we can't spend our coins on stuff we can buy it basically is useless.
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March 18, 2015, 03:23:24 AM
 #16

i believe merchant adoption is the most important part of the success of bitcoin.
if we can't spend our coins on stuff we can buy it basically is useless.

It's important, but that overstates the case because the utility of bitcoin is much larger than merchant-consumer transactions. Consumer transactions could actually be considered fairly low on the list of priorities for bitcoin to be a roaring success over the long run. You can't do very much financially with lumps of gold any more, but that doesn't mean it has lost utility as a store of value. (Can you imagine a campaign of people calling for Amazon and Walmart and so forth to accept gold and fretting about the future of gold if they can't get it accepted? ;-)

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March 18, 2015, 03:55:09 AM
 #17

Can you imagine a campaign of people calling for Amazon and Walmart and so forth to accept gold and fretting about the future of gold if they can't get it accepted?

No, I can't. Alas, Bitcoin is not gold, and is meant to be a payment system, which fits with Amazon and Walmart's interests.

An economy based on endless growth is unsustainable.
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March 18, 2015, 04:02:50 AM
 #18

It doesn't really matter if every business in the world accepts Bitcoin if no one is buying things with Bitcoin. Merchant adoption beyond a point is meaningless without consumer acceptance. The whole Xapo Debit Card idea will eliminate any need for further merchant adoption. When these cards hit the market all businesses will have been assimilated. What we need is more people adoption.

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March 18, 2015, 04:10:17 AM
 #19

such short sightedness. I really don't understand why so many people think this.

You're sacrificing just a little bit of the current price, but you're building a solid foundation for bitcoin to go mainstream, and to the moon, so to speak. How can bitcoin go mainstream if no one accepts it? Getting rid of merchants might temporarily increase bitcoin's price, but it'll harm bitcoin's price in the long run.

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March 18, 2015, 04:39:48 AM
 #20

Yeah, lets just stop right here with less than 0.1% of businesses around the world accepting bitcoin! That'll surely take the prices up!

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